Reliability, whole life costs and carbon dioxide emissions are the most important factors for companies with fleet car policies, according to research.
The latest quarterly Company Car Trends research from GE Capital Fleet Services found reliability was the most important factor for 53 per cent of respondents, while 48 per cent put whole life costs at the top.
The impact on taxation and overall fleet performance produced the continued significance of CO2 output, named by 32 per cent of respondents as the top consideration. Vehicle purchasing price, along with the discount received, was picked out by 30 per cent.
Residual values were named by 22 per cent of respondents, while fuel consumption was cited by a similar proportion, 19 per cent.
Corporate brand and image was an essential consideration when drawing up car fleet policies for only 10 per cent of those surveyed.
“Image-based considerations are placed at the bottom of the list while practical factors such as reliability, whole life costs and CO2 emissions head the table,” said Gary Killeen, managing director at GE Capital Fleet Services. “At a time when the economy is improving, this shows how fleets continue to manage with a mindset that is only just moving out of recessionary mode.”
Killeen added the findings were underlined by responses to a question on which factors were included in vehicle selection policies for employees eligible for company cars.
“The top factor named here is ‘fitness for purpose’ which is mentioned by 64 per cent of those who took part in the survey, while 60 per cent also cite ‘CO2 emissions limit',” he said.
Factors considered essential for fleet policies:
1. Reliability – 53 per cent
2. Whole life costs – 48 per cent
3. CO2 emissions – 32 per cent
4. Vehicle purchase price and discount – 30 per cent
5. Residual values – 22 per cent
6. Fuel consumption – 19 per cent
7. Corporate brand and image – 10 per cent